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Old 11-22-2011, 07:53 PM
Location: Sonoran Desert
34,065 posts, read 43,803,652 times
Reputation: 23079


I am looking into a refi of my vacation home. I have received a quote from the current lender that appears to be 1% above what their published rate would be on a primary residence. Points are the same. Does this sound right?

Also, I had asked the lender about a HARP II refi but it appears from the "welcome packet" that they are treating this as a normal loan with an LTV of 80% on the first. The CLTV does exceed what they say the appraised value is. Note: they have not done and say they are not going to do an appraisal. So the question is: Is there any way to tell if this proposal is under HARP rules or just a typical streamline refi?

Lender is BofA. I don't believe a thing they say.
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